Nisa Investment Advisors LLC Has $5.43 Million Stock Holdings in Martin Marietta Materials, Inc. (NYSE:MLM)

Nisa Investment Advisors LLC lifted its stake in Martin Marietta Materials, Inc. (NYSE:MLM) by 29.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,876 shares of the construction company’s stock after acquiring an additional 2,452 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Martin Marietta Materials were worth $5,426,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. MV Capital Management Inc. increased its stake in shares of Martin Marietta Materials by 144.4% in the third quarter. MV Capital Management Inc. now owns 66 shares of the construction company’s stock worth $27,000 after acquiring an additional 39 shares during the last quarter. Exchange Traded Concepts LLC acquired a new position in shares of Martin Marietta Materials in the fourth quarter worth $27,000. Householder Group Estate & Retirement Specialist LLC acquired a new position in shares of Martin Marietta Materials in the third quarter worth $30,000. Covestor Ltd increased its stake in shares of Martin Marietta Materials by 84.6% in the third quarter. Covestor Ltd now owns 72 shares of the construction company’s stock worth $30,000 after acquiring an additional 33 shares during the last quarter. Finally, Quarry LP acquired a new position in Martin Marietta Materials during the first quarter worth $30,000. 95.04% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on MLM shares. Stifel Nicolaus increased their target price on shares of Martin Marietta Materials from $510.00 to $598.00 and gave the stock a “buy” rating in a research report on Tuesday, December 19th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $600.00 target price (up from $530.00) on shares of Martin Marietta Materials in a research report on Friday, March 22nd. Morgan Stanley started coverage on shares of Martin Marietta Materials in a research report on Monday, January 8th. They set an “overweight” rating and a $595.00 target price on the stock. Truist Financial increased their target price on shares of Martin Marietta Materials from $610.00 to $700.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Finally, StockNews.com cut shares of Martin Marietta Materials from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $577.38.

Martin Marietta Materials Stock Down 0.7 %

NYSE MLM opened at $606.57 on Thursday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.50 and a current ratio of 3.35. The firm has a 50-day simple moving average of $576.92 and a 200 day simple moving average of $501.61. Martin Marietta Materials, Inc. has a twelve month low of $341.40 and a twelve month high of $626.67. The stock has a market cap of $37.50 billion, a PE ratio of 32.21, a PEG ratio of 3.04 and a beta of 0.96.

Martin Marietta Materials (NYSE:MLM) last released its earnings results on Wednesday, February 14th. The construction company reported $4.63 earnings per share for the quarter, beating the consensus estimate of $3.96 by $0.67. Martin Marietta Materials had a net margin of 17.25% and a return on equity of 15.77%. The business had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.62 billion. During the same quarter last year, the company earned $3.04 earnings per share. The firm’s revenue was up 8.9% on a year-over-year basis. On average, research analysts forecast that Martin Marietta Materials, Inc. will post 21.09 EPS for the current year.

Martin Marietta Materials Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Monday, March 4th were paid a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Friday, March 1st. Martin Marietta Materials’s dividend payout ratio is 15.72%.

Insiders Place Their Bets

In other Martin Marietta Materials news, Director Sue W. Cole sold 1,724 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $543.48, for a total transaction of $936,959.52. Following the completion of the transaction, the director now owns 19,793 shares in the company, valued at $10,757,099.64. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Sue W. Cole sold 1,724 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $543.48, for a total transaction of $936,959.52. Following the completion of the sale, the director now owns 19,793 shares of the company’s stock, valued at $10,757,099.64. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO C Howard Nye sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $604.26, for a total transaction of $9,063,900.00. Following the sale, the chief executive officer now directly owns 134,640 shares of the company’s stock, valued at approximately $81,357,566.40. The disclosure for this sale can be found here. Insiders sold a total of 26,724 shares of company stock worth $16,033,760 over the last quarter. Company insiders own 0.59% of the company’s stock.

Martin Marietta Materials Profile

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; and Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.